According to Zacks, “Ready Capital Corporation is a publicly-traded mortgage REIT and is externally managed by Waterfall Asset Management LLC. The company provides non-bank real estate and small business. It lends primarily to multifamily and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. The company approved Freddie Mac Small Balance Loan lender and provides residential mortgage lending through its wholly-owned subsidiary GMFS Inc. Ready Capital Corporation, formerly known as Sutherland Asset Management Corporation, is based in New York, United States. “
Separately, ValuEngine downgraded shares of Ready Capital from a hold rating to a sell rating in a research note on Saturday, April 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Ready Capital has a consensus rating of Hold and a consensus price target of $17.14.
Ready Capital (NYSE:RC) last posted its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.08). Ready Capital had a return on equity of 8.73% and a net margin of 31.79%. The company had revenue of $12.98 million for the quarter, compared to analysts’ expectations of $15.00 million. Sell-side analysts predict that Ready Capital will post 1.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 10.82%. Ready Capital’s payout ratio is currently 90.91%.
Large investors have recently made changes to their positions in the stock. Gemmer Asset Management LLC purchased a new position in Ready Capital in the first quarter valued at about $40,000. Nisa Investment Advisors LLC acquired a new position in Ready Capital in the 1st quarter valued at approximately $29,000. Sharkey Howes & Javer acquired a new position in Ready Capital in the 1st quarter valued at approximately $227,000. Strs Ohio acquired a new position in Ready Capital in the 1st quarter valued at approximately $71,000. Finally, SG Americas Securities LLC acquired a new position in Ready Capital in the 1st quarter valued at approximately $492,000. Hedge funds and other institutional investors own 35.60% of the company’s stock.
Ready Capital Company Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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